Ann: Incannex Presentation - Dr Sud Agarwal - CMO, page-59

Attended the AGM yesterday and listened to Sud present on the 4 drugs and trials IHL have ahead. Must say the greatest acquisition IHL has achieved to date would have to be Sud. His experience and knowledge in this space and his connections is what will take IHL a very long way. The medical advisory board he has set up has key knowledge and experience in the fields at play on trial targets.

The target markets for each of the 4 drugs are billion $$ blockbuster markets so a breakthrough on any will see IHL massively rerated. These markets have currently no to very minimal treatment options available so proving a statistical benefit to patients is easier then proving benefits to drugs already out there for other medical conditions. Yesterday’s patent over IHL 216A for post traumatic brain injury looks like a potential blockbuster along with IHL-42X for sleep apnoea. Both huge markets with little treatment options with current treatments like the CPAP for sleep apnoea seeing patients stopping using the device due to numerous reasons. Currently post traumatic brain injury sees a surgeon open up the skull to relive pressure on the brain so a potential drug application using IHL 216A to relive that pressure would be a major medical breakthrough. Interestingly the preso showed that doctors found that statistics of patients showed that those patients who used recreational cannabis were more likely to survive brain injuries which in turn saw cannabis applications looked at.

IHL i believe is still very undervalued in rekation to its peers with massive drug blockbuster potential. The board has done a great job moving IHL into the cannabis space as well as its dental/mouthguard business. Their move to get Sud on board was a masterstroke with i believe IHL having 1 of the best in the business now to take it to a major in the cannabis space. We are just seeing the space start to grow and IHL
Is positioned with the right people with the right drug target space to potentially become a major. Rest of 2019 and 2020 should see IHL outperform the market as they move into trials.